Student Forums CIA Part 2: Practice of Internal Auditing Section II: Planning the Engagement what is the right steps in planning engagement?

what is the right steps in planning engagement?

  • This topic has 3 replies, 2 voices, and was last updated 2 years ago by Brian Hock.
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  • #137825

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    This forum is restricted to members of the associated course(s).

    Saad ALAwami
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    what is the right sequence steps in planning engagement?

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  • #137826

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    Brian Hock
    HOCK international

    Saad,

    That is a very broad question and it is going to be different for different engagements. It will be different if it is the first engagement with that client or an ongoing engagement. But, in engagements, we need to understand the client and we need to understand what the engagement objectives are. After we know what we are trying to accomplish with the engagement we can start the process of making the work program. This may go through some initial revisions as it is reviewed by the person in charge of the engagement. This is where we will also look at the resources needed for the engagement to make certain that we have them within the IAA or have the ability to get them.

    Does this help? If you can narrow down the question a bit, that may help, too.

    Brian

    #137873

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    Saad ALAwami
    Participant

    In the book section II, it is written that the best to prepare the work program is after the preliminary survey. However, as per the understanding that the steps is first to make the RA and then identify the objective then the scope and after that work program.

    Also, when we should decide the level of resources required for the engagement ? is it after the scope or after preparing the work program ?

    #137906

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    Brian Hock
    HOCK international

    Saad,

    I think it very difficult to create a specific order in which all of the steps are done. This is because some of the steps are done at the same time and some are done more than once. Risk assessment is a critical step to plan the engagement, but even after we have done the RA, we still may need to come back to it as things change or we find something different than we expected.

    The level of resources will start being considered when the engagement is first set up. But, as the RA is done, as the scope is set and as the work program is created, we will have more information to better allocate the needed resources to the engagement. So, this is also something that is not easily set at a specific time. But, if I had to choose one, I would say is done initially after setting the scope, and may be adjusted if needed after the work program is created.

    Brian

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